Chinese high-tech company to issue Global Depository Receipts overseas for international development

Photo taken on Nov. 12, 2020 shows the night view of the Lujiazui area of Pudong, east China's Shanghai. (Xinhua/Wang Xiang)

Fangda Carbon New Material Co., Ltd. (Fangda Carbon, 600516.SH) announced on Tuesday night that it intends to issue Global Depository Receipts (GDRs) overseas and list on the SIX Swiss Exchange, reported Securities Daily.

Fangda Carbon is a high-tech enterprise focusing on the production and development of carbon products. Its major products sell well all over China and are exported to more than 60 countries and regions.

The issuance of GDRs overseas and listing on the SIX Swiss Exchange can help the company attract overseas professional investment institutions and industrial investors, which will further optimize the company's equity structure and promote the internationalization process of products, according to Fangda Carbon.

Direct connection with overseas capital markets can also help improve the company's multi-channel financing capability and secure its international development with sufficient capital and financial resources, said the company.